Lunchtime update: NTHI touches $3.50 as buyers push through the breakout levels we’ve been watching.
DENVER, Colo. (247marketnews.com) — There’s the move. NTHI cleared $3, pushed through the $3.30–$3.40 resistance area and touched $3.50. At the lunchtime snapshot, NeOnc Technologies Holdings (NASDAQ:NTHI) was trading around $3.45, up 17.12%, with approximately 168,800 shares changing hands.
In our previous editorial, we identified $3 as the immediate breakout trigger and $3.50 as a potential pressure point for shorts. Today’s advance has brought both levels into play.
The coiled setup has turned into upward price action.
The five-minute chart shows a series of advancing candles, with noticeable volume bursts accompanying the move. NTHI is trading above VWAP near $3.18 and its five-minute 9-period EMA near $3.23. Today’s intraday pivot resistance levels—approximately $3.02 at R1 and $3.08 at R2—are also below the displayed price.
Now the focus shifts to $3.50.
We view a sustained move above that level as a potential squeeze trigger: shorts who entered below it would face increasing losses on those positions, while breakout traders could add fresh demand. If covering joins that buying, the competition for available shares could accelerate the advance.
That’s why the next hold matters as much as the first push. The reclaimed $3.30–$3.40 area is the first zone we’re watching on a pullback, followed by the rising short-term average and VWAP.
The short-interest backdrop gives this move added significance. Reported short interest increased from 522,311 shares on September 15 to 757,739 on September 30, a rise of approximately 45.1%. That buildup preceded the improving chart and today’s breakout. Our interpretation is that the advance is beginning to challenge the bearish positioning established before this recovery.
And the company’s story continues to develop.
NeOnc’s October 21 announcement outlined a Memorandum of Understanding with the Department of Health–Abu Dhabi covering proposed research and clinical collaboration. The company also reported that two children were receiving investigational NEO100 through its Compassionate Care program, with a third expected that week.
That followed the reported improvement in a three-year-old boy whose treating physicians observed independent breathing without ventilator support and initial leg movement following initiation of NEO100.
Ahead lies November 17, when NeOnc is scheduled to meet with the FDA to discuss NEO212’s proposed Phase 2 study design and potential regulatory pathways.
Our bullish case is gaining a new ingredient: price action. The clinical developments gave investors a reason to look. Today’s move gives traders a reason to watch closely.
$3 broke. The $3.30–$3.40 zone was cleared. $3.50 has been touched. Now we’re watching whether buyers can hold the ground they’ve gained and press higher.
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